Induced innovation
id:
induced-innovation-276-13092094
title:
Induced innovation
text:
Induced innovation is a microeconomic hypothesis first proposed in 1932 by John Hicks in his work The Theory of Wages. He proposed that "a change in the relative prices of the factors of production is itself a spur to invention, and to invention of a particular kind—directed to economizing the use of a factor which has become relatively expensive." Considerable literature has been produced on this hypothesis, which is often presented in terms of the effects of wage increases as an encouragement
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wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Induced_innovation
date created:
date modified:
2023-09-02T10:25:14Z
main entity:
{"identifier":"Q6027219","url":"https://www.wikidata.org/entity/Q6027219"}
image:
fields total:
13
integrity:
13